<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 30, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>China firms can buy stakes, invest in Taiwan from May
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(BEIJING) Chinese companies will be allowed to buy stakes in Taiwan's industries from May 1, according to the Chinese Ministry of Commerce, as the two economies take another step to enhance trade and economic exchange.
Sinosteel Corp, China's second-largest iron-ore trader, will organise a fact-finding tour to Taiwan in the beginning of May to seek investment opportunities, said Li Weiyi, spokesman of the Chinese government's Taiwan Affairs Office, yesterday.
More of these tours will be organised, Mr Li said.
'The first thing we want to do is encourage Chinese companies to take a close look at the industries and the market in Taiwan,' the Commerce Ministry's director of overseas cooperation, Wu Xilin, said at a separate press briefing yesterday, without listing the preferred industries for Chinese companies to examine. 'We want them to understand the situation fully before they make their commercial decision.'
The exchange underscores the improving ties between China and Taiwan, which may help the island recover from its first recession since the technology bubble burst in 2001.
The economy of China, the world's third-largest and Taiwan's biggest trading partner, expanded at an average of 9.8 per cent in the past 30 years, outpacing Taiwan's 6 per cent average in the same period.
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</TD></TR></TBODY></TABLE>Ties between China and Taiwan have improved since the Kuomintang party's Ma Ying-jeou took office last May as the island's president and dropped the pro-independence stance of his predecessor Chen Shui-bian. While China says Taiwan is part of its territory, the two have been administered separately since 1949.
Envoys from both governments signed an April 26 accord to let their financial institutions invest and operate across their borders, increase the frequency of direct flights without having to detour to a third destination, and cooperate to fight crime. -- Bloomberg
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</TD></TR></TBODY></TABLE><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD height=5><SPACER height="5" type="block" width="1"></TD></TR></TBODY></TABLE><TABLE class=yfnc_modtitlew1 cellSpacing=0 cellPadding=0 width=580 border=0><TBODY><TR vAlign=top><TD><TABLE class=yfnc_datamodoutline1 cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR vAlign=top><TD><TABLE cellSpacing=1 cellPadding=2 width="100%" border=0><TBODY><TR><TD class=yfnc_tablehead1 width="48%">Index Value:</TD><TD class=yfnc_tabledata1><BIG>5,993.23 </BIG></TD></TR><TR><TD class=yfnc_tablehead1 width="48%">Trade Time:</TD><TD class=yfnc_tabledata1>1:03PM SGT</TD></TR><TR><TD class=yfnc_tablehead1 width="48%">Change:</TD><TD class=yfnc_tabledata1>
379.17 (6.75%)</TD></TR><TR><TD class=yfnc_tablehead1 width="48%">Prev Close:</TD><TD class=yfnc_tabledata1>5,614.06</TD></TR><TR><TD class=yfnc_tablehead1 width="48%">Open:</TD><TD class=yfnc_tabledata1>5,964.03</TD></TR><TR><TD class=yfnc_tablehead1 width="48%">Day's Range:</TD><TD class=yfnc_tabledata1>5,932.03 - 5,995.12</TD></TR><TR><TD class=yfnc_tablehead1 width="48%">52wk Range:</TD><TD class=yfnc_tabledata1>3,955.43 - 9,309.95</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>China firms can buy stakes, invest in Taiwan from May
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</TD><TD>Feedback</TD></TR></TBODY></TABLE>(BEIJING) Chinese companies will be allowed to buy stakes in Taiwan's industries from May 1, according to the Chinese Ministry of Commerce, as the two economies take another step to enhance trade and economic exchange.
Sinosteel Corp, China's second-largest iron-ore trader, will organise a fact-finding tour to Taiwan in the beginning of May to seek investment opportunities, said Li Weiyi, spokesman of the Chinese government's Taiwan Affairs Office, yesterday.
More of these tours will be organised, Mr Li said.
'The first thing we want to do is encourage Chinese companies to take a close look at the industries and the market in Taiwan,' the Commerce Ministry's director of overseas cooperation, Wu Xilin, said at a separate press briefing yesterday, without listing the preferred industries for Chinese companies to examine. 'We want them to understand the situation fully before they make their commercial decision.'
The exchange underscores the improving ties between China and Taiwan, which may help the island recover from its first recession since the technology bubble burst in 2001.
The economy of China, the world's third-largest and Taiwan's biggest trading partner, expanded at an average of 9.8 per cent in the past 30 years, outpacing Taiwan's 6 per cent average in the same period.
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Envoys from both governments signed an April 26 accord to let their financial institutions invest and operate across their borders, increase the frequency of direct flights without having to detour to a third destination, and cooperate to fight crime. -- Bloomberg
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